Sovran Advisors LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Sovran Advisors LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,671 shares of the home improvement retailer’s stock, valued at approximately $1,834,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the fourth quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in Home Depot during the 3rd quarter valued at about $41,000. Sugar Maple Asset Management LLC acquired a new stake in Home Depot in the 4th quarter valued at about $41,000. Finally, Livelsberger Financial Advisory purchased a new position in Home Depot in the 3rd quarter worth approximately $46,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and upped their price target for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Sanford C. Bernstein began coverage on Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price for the company. Truist Financial raised their target price on Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a research note on Tuesday. Bank of America boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Evercore ISI raised their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $428.85.

Insiders Place Their Bets

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 in the last quarter. 0.10% of the stock is owned by company insiders.

Home Depot Trading Up 0.6 %

NYSE HD opened at $416.39 on Wednesday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a 50 day simple moving average of $405.88 and a 200-day simple moving average of $394.98. The firm has a market cap of $413.63 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 4.22 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the company posted $3.81 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.16%. Home Depot’s payout ratio is 61.14%.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.